Bills › 91st General Assembly
Providing for investment by regents institutions in certified innovation funds and including effective date provisions
Topics:Business & economyHigher education
Same legislation: SF 2453
Where it is now
- Done: IntroducedFebruary 17, 2026
- Done: SubcommitteeFebruary 17, 2026
- Done: Senate committeeFebruary 19, 2026
- Skipped: Passes the SenateContinued as SF 2453
- Next: House committee
- Next: Passes the House
- Next: To the Governor
- Next: Signed into law
Became SF 2453 → Its progress continues under the new number. Go to SF 2453 What’s a funnel?
What’s in it
AI summary Iowa's three public universities must invest at least 1 percent of their endowment money into specific innovation funds by July 2027. These funds help turn university research and technology into new businesses. If a university fails to follow this rule without permission, the state board of regents can withhold some of its funding.1
Read the official explanation
52. The bill provides that each institution shall retain discretion to determine which innovation funds to invest in, when investments are made, and the structure of commitments. The bill authorizes an institution to implement investments through direct commitments, reallocation of existing assets, or rolling commitments as capital is called. Investments made pursuant to the bill shall be managed in accordance with generally accepted institutional fiduciary standards applicable to endowment funds. _____ of the bill if adequate innovation fund capacity is not available or market conditions would materially impair prudent investment.5 percent of the moneys appropriated to the institution through the board in the fiscal year until the institution becomes fully compliant. The bill requires each institution to submit an annual report to the board with specified content on investments under the bill and requires the board to submit a consolidated report to the general assembly by December of each year. The bill requires innovation funds receiving investment under the bill to support the commercialization of institution technologies, spinouts, or research-derived innovations and report such efforts through existing reporting and compliance obligations. The bill requires the economic development authority to maintain a public list of all innovation funds eligible for investment by an institution and notify the board of any changes to the list. The bill includes standards for implementation and construction of the bill relating to donor intent and other matters. The bill takes effect upon enactment.
Changed since by amendments H-8232, S-5091; see Amendments.
Senate subcommittee
Named February 17, 2026. On February 19, 2026 it recommended passage.
Three legislators hear a bill first and recommend what the committee should do; it’s the best time to weigh in. How to take part
1 written public comment to its subcommittee: February 19, 2026 (1) · on the Legislature’s site
Fiscal note
AI summary This bill requires universities under the State Board of Regents to invest at least 1.0% of their foundation-managed endowment assets into innovation funds starting July 1, 2027. The fiscal impact of this bill cannot be estimated because it is unknown if current asset allocations already meet the requirement or what the costs of reallocating assets might be.3
From the note: The fiscal impact of SF 2453 is unknown. There may be some costs associated with the reallocation of assets or varying returns on investments, but the potential impact cannot be estimated with the information available. Source Board of Regents /s/ Jennifer Acton May 28, 2026 Doc ID 1605208 The Fiscal Note for this Bill was prepared pursuant to Joint Rule 17 and the Iowa Code.
Iowa Code it changes
Creates§262C.1§262C.2§262C.3§262C.4§262C.5§262C.6§262C.7§262C.8
Lobbying
2 for · 1 against · 5 undecided · Who →
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91st General Assembly